UBS AG (UBSN) and Credit Suisse Group AG (CSGN), Switzerland’s biggest banks, are adjusting precious-metals charges for financial institutions. UBS revised fees for unallocated accounts and offers an alternative physical account that has “a lower fee structure,” it said in an e-mailed statement. Both banks didn’t give specific details.
The Financial Times reported earlier that the banks are trying to encourage holding metal through allocated accounts, where they would act as custodian and wouldn’t need to increase capital reserves. That’s instead of holding metal through unallocated accounts, which show up on balance sheets...............................................Full Article: Source